Robeco Institutional Asset Management B.V. Sells 1,353 Shares of Intuitive Surgical, Inc. $ISRG

Robeco Institutional Asset Management B.V. lowered its position in shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 213,027 shares of the medical equipment provider’s stock after selling 1,353 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Intuitive Surgical were worth $86,623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ISRG. Bank of America Corp DE lifted its stake in Intuitive Surgical by 3.3% in the 1st quarter. Bank of America Corp DE now owns 3,616,973 shares of the medical equipment provider’s stock worth $1,667,388,000 after purchasing an additional 116,292 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Intuitive Surgical in the 2nd quarter valued at $1,335,753,000. Amundi boosted its holdings in Intuitive Surgical by 8.6% in the 1st quarter. Amundi now owns 2,428,356 shares of the medical equipment provider’s stock valued at $1,119,448,000 after purchasing an additional 193,096 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Intuitive Surgical by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,105,544 shares of the medical equipment provider’s stock valued at $970,635,000 after purchasing an additional 1,027,475 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Intuitive Surgical by 13.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,745,008 shares of the medical equipment provider’s stock valued at $804,431,000 after purchasing an additional 211,237 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.

Key Intuitive Surgical News

Here are the key news stories impacting Intuitive Surgical this week:

• Positive Sentiment: Q3 revenue increased 21.7% year over year to $3.05 billion, surpassing the $2.91 billion consensus estimate, while adjusted earnings of $3.00 per share exceeded expectations of approximately $2.65. Intuitive Surgical Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Underlying demand remained healthy: worldwide procedures grew approximately 15%, including about 14% growth in da Vinci procedures and 31% growth in Ion procedures. System placements also rose to 546 from 427 a year earlier. Intuitive Announces Third Quarter Earnings
• Positive Sentiment: Several analysts maintained bullish views or raised targets following the report, including JPMorgan, which lifted its target to $475 and kept an Overweight rating, while Bank of America reiterated Buy with a $470 target. Intuitive Surgical Buy Rating Reaffirmed

Insider Buying and Selling

In other Intuitive Surgical news, EVP Gary Loeb sold 400 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $379.00, for a total transaction of $151,600.00. Following the sale, the executive vice president owned 5,320 shares in the company, valued at $2,016,280. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Brosius sold 77 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $375.57, for a total value of $28,918.89. Following the sale, the executive vice president owned 881 shares in the company, valued at $330,877.17. The trade was a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,370 shares of company stock valued at $4,891,989 in the last three months. 0.60% of the stock is owned by corporate insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ:ISRG opened at $428.12 on Thursday. The company’s fifty day moving average price is $393.50 and its 200-day moving average price is $408.89. The firm has a market capitalization of $151.25 billion, a price-to-earnings ratio of 51.77, a PEG ratio of 3.30 and a beta of 1.46. Intuitive Surgical, Inc. has a one year low of $328.57 and a one year high of $603.88.

Intuitive Surgical (NASDAQ:ISRG) last posted its quarterly earnings data on Tuesday, October 20th. The medical equipment provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.35. Intuitive Surgical had a net margin of 25.54% and a return on equity of 17.70%. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the company posted $2.40 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts expect that Intuitive Surgical, Inc. will post 8.87 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Intuitive Surgical from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. Erste Group Bank upgraded Intuitive Surgical from a “hold” rating to a “buy” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating on shares of Intuitive Surgical in a research note on Friday, August 21st. Sanford C. Bernstein restated an “outperform” rating on shares of Intuitive Surgical in a research report on Wednesday, August 12th. Finally, Truist Financial reduced their target price on Intuitive Surgical from $580.00 to $510.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Twenty-five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Intuitive Surgical currently has a consensus rating of “Moderate Buy” and an average target price of $500.13.

About Intuitive Surgical

Intuitive Surgical, Inc develops and manufactures robotic-assisted systems and related technologies for minimally invasive surgery. Its products are designed to help surgeons perform procedures through small incisions while providing enhanced visualization, precision and control. The company’s primary platform is the da Vinci Surgical System, which is used across a range of specialties, including urology, gynecology, general surgery, cardiothoracic surgery and other procedures.

The company also offers the Ion endoluminal system, which is designed to support minimally invasive lung biopsy procedures.